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Financial News: EMBRAER: Boeing To Buy 80% Of Commercial Aviation

EMBRAER: Boeing To Buy 80% Of Commercial Aviation Business For US$ 3.8 Bln

07/05/2018 - 11:53:00 (RTTNews)

(RTTNews) - Brazil's Embraer and U.S.'s Boeing reached an agreement for the American company to buy 80% of the Brazilian aircraft maker's commercial aviation business for US$ 3.8 billion.

The business should be carried out through the creation of a joint venture in the commercial aviation area, in which Embraer will have the remaining 20% of the total share capital, totaling US$ 4.75 billion.

The deal, however, has not yet been implemented. The companies have signed a memorandum of understanding for the creation of the joint venture and will now deal with the definitive documents of the operation, including the structure and financial terms.

If they reach a definitive agreement, Embraer and Boeing will need the approval of the Brazilian government, the competent corporate bodies of the two companies and the regulatory authorities competent to close the deal.

Embraer also said that its defense and executive aviation businesses are out of the deal with Boeing.

For comments and feedback: contact editorial@rttnews.com

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